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Poll Manager (Total Polls: 0)

In Response To:
Thread Starter: Anonymous
Title: Re: Payable on Death (POD)

Other than the consideration for deposit insurance, when would it benefit the customer to title the account POD versus just listing a beneficiary? The bank listened to the recent BOL seminar on deposit insurance and are now concerned that we don't "require" the accounts to be set up as POD so that the customers can get the benefit of the deposit insurance. We believe that the customer has to determine the intent but want to understand when POD would be more appropriate. Thank you.